Thanks for the feedback. When you think about it....id rather put my debt in credit cards than mortgaging my house....youre personally liable for that!!! Your single, thats cool, but when you have a family....there is A LOT MORE to consider. I care more about my family than anything else...so, I my situation, I will do CLOSE TO WHATEVER to provide for them the best way I can. Yeah, its nerveracking there were plenty sleepless nights....BUT, there was AT LEAST A CHANCE of getting better.
If youre in the food service business, aside from perhaps working for a food service company, there is NO CHANCE of making real money. When i didn't own a restaurant, i had to get three jobs. two full and a small part time. This allowed me to bring in a decent amount of cash.....but at what cost? I was NEVER, and i mean NEVER home. I missed ALL of my kids special events. I HAD to hit it big in order to simply have a NORMAL life.
There are LOTS AND LOTS of bargains out there. DOn't think for one minute that all places go out of business because of the location. They go out because of sheety food, huge mismanagement ( the restaurant business is a collection of TEMPTATIONS, all of mans worst temptations are present.....booze, drugs, women, late hours....a LOT of restaraunteurs fall prey to these....causing them to go out of business......so, lot of times, the out of business restaurant if a great opportunity to pick up 250K worth of stuff or 15-20 K. Throw in some money in order to make the old aura go away......and your in business!.
Of course, if you have people with deep pockets, who trust you with their cash....thats the best way...but then you have people with NO IDEA about food service telling you what THEY would do......and often it is complete nonsense. Credit cards provide you a means of being your own boss, of not being personally liable for debt.....scary, but ABSOLUTELY DOABLE.